State’s utility disaster

By Steve Gust

KWTV had an interesting report on the massive, and I mean massive, utility costs handed down to ratepayers following the arctic blast in 2021.

We’re almost at the two-year mark of that horrific storm, which had sub zero temps for about four or five days.

Steve Gust

And that ended up costing us $4.7 billion, which will be paid back over 28 years. You might re-read the last sentence. It’s still hard to believe. I think the people in the rolling blackouts then should only be on the hook for 20 years instead of 28.

The problem was that during the storm the utility companies had trouble accessing and getting natural gas. In other words, demand stripped supply. So the companies went to other suppliers, who sold it at exorbitant rates — way too exorbitant if you ask me.

And I will remind everyone about a double standard. I can bring a 24pack of water bottles to a disaster area and sell each bottle for a dollar. I pocket the whopping $20 profit. But guess what? I’m still a price gouger and the law can arrest me.

But you can be a supplier and up the natural gas cost by what? One hundred percent? Five hundred or 1000 percent? Why not 10,000 percent? Or 100,000 percent?

I’m not sure what ONG’s response was to the recent criticism. KWTV couldn’t get a comment from them. I know in the past they’ve said that their only options were to hit everyone with a massive bill or space it out over time.

The TV station also said “only” $2 billion was the actual cost of the gas and the other $2.7 billion was for interest and various fees for others involved, such as attorneys. Almost $5 billion for a week’s worth of heat?

Wow.

I know it was a tough time for ONG. Just seems like there had to be a better way.

Maybe ONG and OG&E could have had a huge bake sale every other month at the State Fairgrounds for years to come.

(Steve Gust may be reached at news@edmondpaper.com)